Paralel Advisors LLC Makes New Investment in Euronet Worldwide, Inc. $EEFT

Key Points

• Paralel Advisors LLC purchased 34,804 shares of Euronet Worldwide worth approximately $2.55 million, establishing a 0.09% stake. Institutional investors collectively own 91.60% of the company.
• Director Thomas A. McDonnell bought 3,000 shares at an average price of $66.87, while insiders own 12.19% of Euronet’s stock.
• Euronet reported quarterly EPS of $2.82, below the $2.93 consensus estimate, although revenue rose 3.2% year over year. Analysts maintain a consensus “Hold” rating with a $96 price target, compared with a recent share price of $69.38.

Paralel Advisors LLC purchased a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 34,804 shares of the business services provider's stock, valued at approximately $2,547,000. Paralel Advisors LLC owned 0.09% of Euronet Worldwide as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in shares of Euronet Worldwide in the third quarter valued at $26,000. Danske Bank A S acquired a new position in Euronet Worldwide during the 3rd quarter worth $26,000. Geneos Wealth Management Inc. increased its holdings in Euronet Worldwide by 48.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider's stock worth $36,000 after purchasing an additional 109 shares during the period. Kestra Advisory Services LLC purchased a new stake in Euronet Worldwide during the 4th quarter worth about $38,000. Finally, Allworth Financial LP acquired a new stake in Euronet Worldwide in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Insider Buying and Selling

In related news, Director Thomas A. Mcdonnell acquired 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $66.87 per share, with a total value of $200,610.00. Following the completion of the acquisition, the director owned 100,219 shares in the company, valued at approximately $6,701,644.53. This represents a 3.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.19% of the stock is currently owned by insiders.

Euronet Worldwide Trading Up 1.1%

NASDAQ:EEFT opened at $69.38 on Friday. Euronet Worldwide, Inc. has a 1 year low of $62.50 and a 1 year high of $98.52. The stock has a market cap of $2.64 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.55 and a beta of 0.82. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day simple moving average of $73.73 and a 200-day simple moving average of $71.40.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business posted $2.56 EPS. As a group, analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EEFT. Weiss Ratings downgraded Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. DA Davidson reiterated a "buy" rating and set a $102.00 price target on shares of Euronet Worldwide in a report on Friday, July 10th. Finally, Needham & Company LLC increased their price objective on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $96.00.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world's largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.

Want to see what other hedge funds are holding EEFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source